In this one-day course, we will discuss what it means to be tax-exempt, review the Form 990, and cover nuances of tax reporting for such organizations including fundraising activities, compensation, and other applicable taxes. We will help you understand what the IRS is looking for on the tax return and provide you with the knowledge to properly report your organization’s activities.

AGENDA

9:00am – Obtaining and Maintaining Your Tax-Exempt Status-We’ll cover the benefits of 501(c)(3) status and the differences between public charities and private foundations. We’ll help you recognize the types of activities that can jeopardize your 501(c)(3) status and provide some tips on avoiding those activities. We will also cover current events of the sector.

Presenter – Jennifer Becker Harris

9:30am – Walk-Through of the Form 990 –The Form 990 is open to public disclosure for all non-profits. We will help you position your organization for success in completing the 990-core form and various supplemental schedules, including discussion of related organizations, interested persons, and the public support test. The form heightens transparency and disclosure and we’ll help you make sure your organization is in compliance.

Presenters – Frances Olson and Carolyn Fjelstad

11:00am – Lunch Break

11:30am – Compensation and Transaction Disclosures for Board Members and Employees–As the Form 990 is open to public disclosure, so too may be the compensation of your organization’s top officials and employees. In this session we will discuss the different categories of who needs to be listed on the return, what compensation to report, and additional disclosures that may be required in any given year.

Presenters – Sarah Huang and Kathryn Okimoto

12:20pm – Break

12:30pm – Reporting of Contribution Revenue and Fundraising Events–We will walk through the logistics for fundraising events in order to understand how to report them on the Form 990, including what fair market value actually means, what portion of contributions are deductible, and why events always are accounted for by a loss. We will also discuss gaming activities and review the requirements for donor acknowledgement.

Presenters – Kathryn Okimoto and Celia Davis

1:30pm – Break

1:40pm – Taxes for the Tax-Exempt: Unrelated Business Income Tax and State/Local Taxes-Many not-for-profits don’t realize that they may be subject to paying taxes in some form. We’ll discuss the basics of unrelated business income and how the income may be subject to federal taxes. Additionally, we will discuss state and local tax implications, including sales/use taxes, business and occupation taxes, and property taxes. We will review common issues and errors, as well as discuss how to a minimize your tax liability.

Presenters – Megan Ryan, Grant Shaver and Jorge Alegre

REGISTRATION

To register for this event, please visit EVENTBRITE.COM

EVENT INFORMATION

Date: September 16, 2021

Time: 9:00 am to 2:30 pm

Cost: $125

Platform: GoTo Webinar

CPE: 5.0 credits